DUBLIN--(BUSINESS WIRE)--The "Pharmaceutical Continuous Manufacturing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application; End User and Geography" report has been added to ResearchAndMarkets.com's offering.
The pharmaceutical continuous manufacturing market is expected to reach US$ 3,064.38 million by 2027 from US$ 1,459.53 million in 2019. The market is estimated to grow at a CAGR of 9.8% from 2020 to 2027.
The growth of the market is attributed to key driving factors such as increasing shortage of medicines and advantages offered by continuous manufacturing process. However, high capital costs required for the establishment of these systems expected to restrain the growth of the market during the forecast period.
Batch manufacturing have been the most common and traditionally used mode of manufacturing in the pharmaceuticals industry for more than a century. However, with the rising demand for biologics and increasing trend of contract manufacturing, the flexible manufacturing alternatives such as continuous manufacturing processes are being embraced and gaining importance in the recent years. The FDA is passing quick approvals to companies transitioning from batch production to continuous manufacturing procedures. In 2016, Orkambi by Vertex Pharmaceuticals was the first manufacturer to go batch-less on their production lines. Furthermore, in April 2019, Janssen Pharmaceuticals, a division of Johnson & Johnson Services, Inc., switched to continuous manufacturing process for the development of active pharmaceutical ingredients (API) due to the advantages offered by this process in terms of streamlining the manufacturing procedure and ability to accelerate procedures.
Continuous pharmaceutical manufacturing involves a drug taken from its base ingredients to final product with no need of halt or stop during the production. According to the Food and Drug Administration (FDA), the pharmaceutical manufacturing industry wastes up to US$ 50 billion every year on an average on inefficient processes. Continuous manufacturing serves to be a potential solution for the same problem. In addition, there are various other advantages offered by the continuous process that include more time-efficiency, reduced energy needs, and increased productivity, as well as reduction in overall wastage amounts. Furthermore, the risk of human error is also reduced in the continuous process due to a smaller number of people involved in the manufacturing process. Thus, the advantages offered by continuous manufacturing over batch manufacturing procedure are expected to drive the growth of the market over the coming years.
Some of the crucial secondary sources included in the report are Food and Drug Administration, World Health Organization (WHO), Organization for Economic Co-operation and Development, Rashtriya Swasthya Bima Yojna, Health Canada, and European Medical Agency (EMA).
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- Increasing Shortage of Medicines
- Advantages Offered by Continuous Manufacturing Process
Key Market Restraints
- High Capital Investments
Key Market Opportunities
- Emerging Markets
- Increasing Adoption of Continuous Manufacturing in Pharmaceuticals
- GEA Group
- Coperion GmbH
- Gericke AG
- Glatt GmbH
- Hosokawa Micron Group
- Munson Machinery Co., Inc.
- Powrex Corp
- Thermo Fisher Scientific Inc.
- Cadmach Machinery Co. Pvt. Ltd.
- Fette Compacting
- Freund-Vector Corporation
- KORSCH AG
- Leistritz AG
- Alexanderwerk AG
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